Common use of Departmental clause Clause in Contracts

Departmental clause. If the business is conducted in departments or branches, the independent trading results of which are ascertainable, the provisions under items 1 (gross profit), 2 (gross rentals) or 3 (revenue) relating to reduction in turnover/gross rentals/revenue and increase in cost of working, shall apply separately to each department or branch affected by the Damage, except that if the sum covered by the relative item is less than the aggregate of the (annual gross rentals), (annual revenue), (sums produced by applying the rate of gross profit) for each department or branch, whether or not affected by the Damage, (to the relative annual turnover thereof), (proportionately increased if the number of months referred to in the definition of indemnity period exceeds twelve), the amount payable shall be proportionately reduced. Deposit contribution clause In consideration of the contribution by items 1, 2 or 3 being provisional in that it is calculated on 75 percent of the sum covered, the contribution is subject to adjustment on expiry of each period of cover as follows: In the event of the gross profit/gross rentals/revenue earned (proportionately increased if the number of months referred to in the definition of indemnity period exceeds twelve) during the financial year most nearly concurrent with any period of cover being less or greater than 75 percent of the sum covered thereon, a pro rata return or additional contribution not exceeding 33,3 percent of the provisional contribution paid for such period of cover will be made in respect of the difference. In the event of a claim being made under this section, the amount paid or payable thereon shall be regarded as actually earned. Output (alternative basis) clause At the option of the participant, the term output may be substituted for the term turnover and, for the purposes of this section, output shall mean the sale or transfer value, as shown in the participant’s books, of goods manufactured or processed by the participant at the premises provided that

Departmental clause. If the business is conducted in departments or branches, the independent trading results of which are ascertainable, the provisions under items Items 1 (gross profit), 2 (gross rentals) or 3 2 (revenue) relating to reduction in turnover/gross rentals/turnover/ revenue and increase in cost of working, shall apply separately to each department or branch affected by the Damage, Damage except that if the sum covered by the relative item is less than the aggregate of the (annual gross rentals), (annual revenue), ) (sums produced by applying the rate of gross profit) for each department or branch, whether or not affected by the Damage, Damage (to the relative annual turnover thereof), ) (proportionately increased if the number of months referred to in the definition of indemnity period exceeds twelve), the amount payable shall be proportionately reduced. Deposit contribution Contribution clause In consideration of the contribution by items 1, Items 1 or 2 or 3 being provisional in that it is calculated on 75 percent of the sum covered, the contribution is subject to adjustment on expiry of each period of cover as follows: In the event of the gross profit/gross rentals/revenue earned (proportionately increased if the number of months referred to in the definition definitions of indemnity period exceeds twelve) during the financial year most nearly concurrent with any period of cover being less or greater than 75 percent of the sum covered thereon, a pro rata return or additional contribution not exceeding 33,3 331/3 percent of the provisional contribution paid for such period of cover will be made in respect of the difference. In the event of a claim being made under this section, the amount paid or payable thereon shall be regarded as actually earned. Output (alternative basis) clause At the option of the participant, Participant the term output may be substituted for the term turnover and, and for the purposes purpose of this section, section output shall mean the sale or transfer value, as shown in the participantParticipant’s books, of goods manufactured or processed by the participant Participant at the premises provided that